WEALTH can be held in a variety of ownership forms. Estate planning requires a careful and considered examination of ownership structures to determine exactly what will fall within your estate and what will not, and to plan as appropriate for the ultimate control of these assets.
…that your adult kids might have to pay a lot of tax if you leave them your superannuation & insurance proceeds?
This can be a particular issue where you:
- Are splitting your assets amongst your children – for instance you leave the house to one child, and your super to another; and/or
- You have some children that are dependents and some that are not!